Section 196C of ITA, 1961 : Section 196C: Income From Foreign Currency Bonds Or Shares Of Indian Company
ITA, 1961
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Explanation using Example
Imagine a company in India issues Global Depository Receipts (GDRs), which are bought by a non-resident investor. When the company declares dividends on these GDRs, or the non-resident investor decides to sell the GDRs and earns a long-term capital gain, the company or the intermediary handling the sale is responsible for deducting income tax at the rate of 10% from the payment made to the non-resident invest...
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